GLG records two-thirds rise in revenue

Revenue at GLG Partners broached $1bn (Ã¢ÂÂ¬680m) last year, 68% more than in 2006, after the UK-based and US-listed hedge fund manager increased its net assets under management by 62% over the year.

Net assets under management grew from $15.2bn at the start of last year to $24.6bn at the end. Noam Gottesman, co-founder, chairman and co-chief executive of GLG, said the net inflows were a record for the firm. He added: "The prospects for future expansion remain bright and we are on track with our US plans having...